Page 9 - Banks

Bank of Maharashtra cuts retail loan rates by up to 50 bps post RBI move

Bank of Maharashtra, Bank of Baroda and other PSU banks cut lending rates following RBI's 50 bps repo rate reduction, with home loans now starting at 7.35 per cent

Union Bank, Canara Bank, IOB cut lending rates by 50 bps after RBI move

Following a 50 bps policy rate cut by RBI, Union Bank revises its external benchmark lending rate, easing loan costs for retail and MSME borrowers

State Bank of India hires 13,455 junior associates for customer service

The recruitment is aimed to fill vacancies across 35 states and Union Territories, making it one of the significant hiring initiatives in the industry, the bank said in a press release

Bank holiday today: Are banks shut on June 11 for Kabir Jayanti, Saga Dawa?

Bank holiday today: Banks in two states are closed today, June 11, 2025, due to Sant Guru Kabir Jayanti and Saga Dawa. Check holiday details and services available

RBI rejects Annapurna Finance's application for setting up universal bank

The Reserve Bank has rejected the application of Annapurna Finance Private Limited for setting up a universal bank. In a statement on Friday, the RBI said it has completed the examination of the application of Annapurna Finance Private Limited for setting-up a universal bank. "Based on the assessment of the application as per the procedure laid down under extant guidelines, the applicant was not found suitable for granting of in-principle approval to set up a universal bank," it said. The central bank had received the application under the guidelines for 'on tap' licensing of universal banks.

Govt flags bank staff safety, services operations to chief secretaries

Writes to chief secys after incidents of people behaving inappropriately with bankers

Is banks' earnings dominance in Nifty50 fading? A deep dive

Bank stocks: Banks, Elara Capital said, saw softer earnings in Q4 as credit growth remained subdued, even as deposit mobilization improved.

Bank holidays 2025: Banks to be closed this week for 2 days across India

Banks will be closed for two days this week in many cities nationwide due to Eid al-Adha or Bakrid 2025. However, online banking services remain available during the holidays

Banks make a killing from TREPS, standing deposit facility arbitrage

The SDF window, which came into effect from April 2022, offers 25 bps lower than the policy repo rate

June 2025 bank holidays: Keep your banking on track with these dates

Check out the dates and tips to keep your banking smooth with digital services, even when branches are closed

Canara bank waives minimum balance requirement for all SB accounts

Change effective from June 1, customers will no longer have to maintain a minimum balance in their savings bank accounts

Yes Bank to boost retail book with strong focus on internal customers

The bank plans to grow its retail book by 10-12% in FY26, reduce the cost of deposits, and improve asset yields

Interest rates on fresh deposits declined sharply by 35 bps in April

Fresh deposit rates declined more sharply than lending rates in April, as RBI's policy easing and surplus liquidity support rate transmission across the banking system

Listed banks post ₹94,228 crore profit in Q4; PSBs lead with 13% rise

Driven by strong public sector bank performance, listed banks saw a 4.4% YoY profit rise in Q4 FY25, despite private banks posting lower profits and muted NIMs

Panchkula horror: How a family of 7 died in suspected mass suicide

Seven members of a family were found dead in a parked car in Panchkula, Haryana, in a suspected case of mass suicide. The family was reportedly under heavy debt, and a suicide note has been recovered

RBI reviewing shareholding norms for banks, says Guv Sanjay Malhotra

While India permits 74% foreign direct investment in private banks, it restricts a single financial entity from holding more than 15% unless a regulatory exemption is granted.

Refineries to banks: Here are the sectors that topped investments in FY25

In FY25, sectors like refineries, telecom services, and iron and steel led capital investments in India

Punjab & Sind Bank, IoB chiefs likely to get extended tenures soon

"Granting extension of tenures to PSB & IOB MDs is at a final stage. Both MDs have two years of services left. The final notification will come soon," said the source

EOW arrests Delhi builder for siphoning off crores from private bank

The Economic Offences Wing (EOW) of Delhi Police has arrested a real estate developer for allegedly cheating and siphoning off crores of rupees from a private bank, police said on Monday. The accused, Anil Mithas (52), a resident of Noida, is the director and majority stakeholder of a real estate group, the police said. The private bank had sanctioned loans of Rs 100 crore and Rs 65 crore in 2016 and 2017 for the construction of projects in Noida and Gurgaon by M/s Unnati Fortune Holding Limited (UFHL). However, it was found that Mithas had allegedly misrepresented facts and siphoned off the loan amount. In 2019, M/s Nupur Finvest Pvt Ltd, a financial creditor, approached the National Company Law Tribunal (NCLT), alleging that UFHL had mortgaged the same 75 flats with them and later with the private bank. The NCLT initiated insolvency proceedings and appointed an Insolvency Resolution Professional (IRP), who ordered an audit of UFHL. The audit allegedly revealed major financial .

Bank holiday today: Banks are shut in these states for Buddha Purnima

Bank Holiday 2025: Banks in parts of the country are closed today, on May 12, due to Buddha Purnima, the birth anniversary of Lord Buddha. Here's all you need to know